$ETH
ETH, this dip has come down to 2673, exactly retracing to a key weekly-level support zone. On the 4-hour chart, it has printed three consecutive long lower wicks, and the bids underneath are very solid. Looking at on-chain data, the exchange’s net ETH outflow has hit a new one-month high, and large holders are quietly accumulating. The funding rate has already turned negative—shorts are starting to pay interest. At times like this, it’s often a precursor to a trend reversal. Go long around 2670, target 2900, stop loss at 2550. The risk-reward ratio is appropriate.
ETH, this dip has come down to 2673, exactly retracing to a key weekly-level support zone. On the 4-hour chart, it has printed three consecutive long lower wicks, and the bids underneath are very solid. Looking at on-chain data, the exchange’s net ETH outflow has hit a new one-month high, and large holders are quietly accumulating. The funding rate has already turned negative—shorts are starting to pay interest. At times like this, it’s often a precursor to a trend reversal. Go long around 2670, target 2900, stop loss at 2550. The risk-reward ratio is appropriate.